Some Amazing facts about cryptocurrency (2023)

Some Amazing facts about cryptocurrency (2023)

Crypto has become a debatable topic over years and due to this increased popularity has become a mainstream subject to discuss upon. As a result, there are lots of sources available both online as well as offline that educate people on the subject specifically.

Many of these are majorly subject-specific and do not cover the other details while some sources have information not available normally. The latter information is a concern of interest and as a result, attracts the attention of people.

The concept of crypto that started a decade earlier has evolved with the advance in time. People should use while choosing a reputable trading platform.

The facts related to crypto are interesting and need special attention if someone wants to learn about the field. In this article, we will concentrate on these facts that make crypto an interesting subject. So, let us start the journey and discuss the interesting facts.

  • The first transaction 

The year of 2010 marks a spectacular year for the generation of crypto. The day of May 22, 2010 marks the day when the first ever transaction related to crypto was ever made, and that too for a pizza!

A man in Florida paid a whopping amount of 10,000 bitcoins for owing the pizza and marking the first-ever transaction in the history of bitcoin aka crypto. Though, the exchange value of bitcoin at that time has limited and cost nearly $40. 

  • The diverse world of crypto 

For some people, crypto is merely a subject while real enthusiasts know that crypto is a universe in itself! The studies done by several agencies confirm the existence of more than 12,000 active cryptocurrencies at this instant in time and this number is not normal.

Though, the features of crypto are completely different from each other and some of them world only under the headings of their respective wallets. This class of crypto mainly covers altcoins and some tokens.

  • Limited treasure 

Many people believe that the supply of bitcoin is unlimited and it is going to supply economic benefits for an infinite period. But, this is not true.

The fact is that the total supply of bitcoin is limited and that too limited due to restrictions in the supply and generation of these coins. The total limit of bitcoin is about 21 million coins and after this threshold, the saturation point will come.

A recent study confirms the number of unmined bitcoin to be less than 10% of the total number of coins. 

  • The hunger for crypto 

A man from the U.K. namely James Howells in the year 2013 accidentally throw away a hard disk that contains more than 7,500 bitcoins! When the time came and he realized the net worth that he successfully wasted he started looking for the drive.

Now, he wants to excavate the landfill and is currently asking the concerned municipal committees to look into this matter and grant permission for the excavation of the same. This represents the sheer hunger for crypto among the common masses. 

  • Evolution in the usage of crypto coins

With the advancement in time, the usage of crypto has also changed and the currencies that happened to be merely a coin have changed and many new roles have been designated to these currencies.

Taking the example of Ethereum, one can easily understand the chronology of evolution. The Eth coin that was formerly used only for wealth generation can now be used for the storage and development of new projects like NFTs, smart contracts, and many decentralized applications.

Leading to this, the future of crypto is considered to be bright and self-flourishing.

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